Concurrent Investment Advisors LLC Purchases 764 Shares of SEI Investments (NASDAQ:SEIC)

Concurrent Investment Advisors LLC grew its position in shares of SEI Investments (NASDAQ:SEIC) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,843 shares of the asset manager’s stock after buying an additional 764 shares during the period. Concurrent Investment Advisors LLC’s holdings in SEI Investments were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of SEI Investments by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after purchasing an additional 36,810 shares during the period. Brown Advisory Inc. increased its position in shares of SEI Investments by 1.6% in the fourth quarter. Brown Advisory Inc. now owns 692,337 shares of the asset manager’s stock worth $43,998,000 after purchasing an additional 10,700 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of SEI Investments by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the asset manager’s stock worth $41,652,000 after purchasing an additional 12,453 shares during the period. Hsbc Holdings PLC increased its position in shares of SEI Investments by 0.8% in the fourth quarter. Hsbc Holdings PLC now owns 551,474 shares of the asset manager’s stock worth $35,049,000 after purchasing an additional 4,212 shares during the period. Finally, Raymond James & Associates increased its position in shares of SEI Investments by 4.8% in the second quarter. Raymond James & Associates now owns 524,631 shares of the asset manager’s stock worth $33,938,000 after purchasing an additional 24,058 shares during the period. Institutional investors own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other news, Director William Doran sold 5,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the sale, the director now directly owns 656,386 shares in the company, valued at $44,004,117.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William Doran sold 5,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the sale, the director now directly owns 656,386 shares in the company, valued at $44,004,117.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,582 shares of company stock worth $9,277,605. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler decreased their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.25.

SEI Investments Stock Down 0.5 %

SEI Investments stock opened at $67.27 on Wednesday. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The business’s 50-day moving average price is $66.27 and its two-hundred day moving average price is $67.27. The stock has a market cap of $8.74 billion, a PE ratio of 18.38, a P/E/G ratio of 1.34 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, analysts expect that SEI Investments will post 4.2 earnings per share for the current year.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.